Re: Discover Platinum I've heard people talk about this card in the past. Most say that this is a great card to have. How does everyone on this board feel about this card? What are the advantages and or disadvantages of this card. Can you all talk about this card in greater detail, as I would really like to learn more about this type of credit card. Ive heard Discover grants cash back, that in itself sounds great to me! Alan
Re: Discover Platinum No you will get a rep, just asked the status of your application, they will tell you if you are approved or denied.
Re: Discover Platinum I've had this card for about 9 months now... It's a decent card, the APR is 14.9. They usually give generous limits, I have 6000. You get 1% cashback (well, some conditions here, read the fine print). You don't want to carry balances on this card, they use a slighly different method of computing finance charges and you pay more. What I like best is their online account info site, it's one of the best around. Hope this helps
Re: Discover Platinum I have this card too with a 11,000.00 limit,and the advantage is that it does offer you cash back,but the disavantage is you can't carry any balances at all!Just call that #,and find out if you have been approved.Let us know wether you got it,or not.
Re: Discover Platinum I personally like the double cash back bonus at certain retailers. I think they also give triple cash back if you stay at certain hotels.
Re: Discover Platinum Watch out for the 2 cycle billing--never carry a balance or else you might double your finance charges!
Re: Discover Platinum Would someone explain this 2 cycle billing? and why it's not a good idea to carry a balance on this card?
Re: Discover Platinum Hi Aaron, I found this posted from Top on February 15 about two cycle billing: Two-Cycle Average Daily Balance, Including New Purchases. This balance is the sum of the average daily balances for two billing cycles. The first balance is for the current billing cycle, and is figured by adding the outstanding balance (including new purchases and deducting payments and credits) for each day in the billing cycle, and then dividing by the number of days in the billing cycle. The second balance is for the preceding cycle "Assume a consumer starts the first month with a zero balance and charges $1,000, of which the minimum amount due (listed on the statement) is paid. The next month, another $1,000 is charged and then the entire balance due is paid off. The same pattern is repeated three more times during the year. The stated interest rate on all cards is 19.8% APR. The yearly finance charge varies from $66.00 to $196.20. -------------------------------------------------------------------------------- Figure 2. Finance Charge Computation Methods* Average Daily Balance (excluding new purchases), finance charge is $ 66.00 Average Daily Balance (including new purchases) finance charge is $132.00 Two-Cycle Average Daily Balance (including new purchases) finance charge is $196.20 Two-Cycle Average Daily Balance (excluding new purchases) finance charge is $131.20 " Hope this helps. Dani
Re: Discover Platinum How fast does Discover get back to you regarding an approval or denial? I'm only interested in people who have been denied or approved (since they know). Thanks!
Re: Discover Platinum Hi Shantel, I applied for the Discover Card last September and it took them two weeks to respond to my online application. Hope this helps. Best wishes. Dani
Re: Discover Platinum Thanks. It's been about a week so I'll wait. I called but they didn't have an answer.